Land Exchange Clause Samples
A Land Exchange clause establishes the terms under which parties agree to swap ownership of specific parcels of land. Typically, this clause outlines the properties involved, the process for valuing the land, and any conditions that must be met before the exchange occurs, such as obtaining necessary approvals or conducting due diligence. Its core function is to provide a clear, structured mechanism for transferring land between parties, thereby reducing uncertainty and ensuring both sides understand their rights and obligations in the transaction.
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Land Exchange. In order for the Applicant to construct the Connector Road, it will be necessary for the Applicant and the City to exchange certain real property. The Applicant will exchange an approximately 21.89-acre parcel within the Property, as described in Exhibit “E” attached hereto and incorporated herein by this reference (the “Applicant Exchange Parcel”) and labeled “Land Swap” on the Conceptual Plan, with the City for the 100- foot-wide (minimum) right-of-way for the Connector Road within the City’s regional park site, which is approximately 21.3 acres, as described in Exhibit “F” attached hereto and incorporated herein by this reference (the “City Exchange Parcel”), which is depicted on the Conceptual Plan. The Applicant’s parcel has a value greater than the City parcel, as required in Rule 62- 818.016, Florida Administrative Code, which regulates such land exchanges. The Applicant has prepared all deeds, legal descriptions and sketches of description for the parcel exchange, at its expense. Once the Applicant and the City exchange the Applicant Exchange Parcel and the City Exchange Parcel, the legal description of the Property will be as set forth in Exhibit “A-2” attached hereto and incorporated herein by this reference.
Land Exchange. CATS may consider releasing outer portions of the Transit Corridor that aren’t used or needed by CATS to the adjacent Property Owner, as long as the proposed adjacent development is transit supportive and in exchange for certain consideration as determined by CATS. The consideration routinely obtained by the City is listed below: • Deed underlying fee simple in the Transit Corridor to City, thus providing clear fee simple title to the portion of the Transit Corridor used or needed by CATS (this item is mandatory) • Construction and maintenance of the Rail Trail per the Zoning Ordinance or as negotiated with CATS (this item is mandatory) o The Rail Trail includes: landscaping/planting strips, minimum 12’ wide concrete pedestrian path, fencing, pedestrian lighting, , ballast curb (if needed) • Additional pedestrian and bicycle connectivity via easement to City • Drainage improvements • Public art • Cash • Other amenities or improvements as the City deems appropriate The CATS Transit Corridor Land Exchange Valuation Procedure describes the valuation methodology for the land exchange (Attachment A). The following is a list of Corridor Access Agreement documents needed to complete the land exchange and access or use the Transit Corridor: • Quitclaim Deed (City to Property Owner) o Grants fee simple title (releasing rights in the Transit Corridor) to the outer unused portion of the Transit Corridor • Quitclaim Deed (Property Owner to City) o Grants fee simple title to the inner used/needed portion of the Transit Corridor • CATS License & Indemnity Agreement o Gives Property Owner the right to enter the Transit Corridor to construct and maintain the Rail Trail and any other approved amenities or improvements located in the Transit Corridor o Among other things, the license agreement includes additional insurance coverage that must be provided to CATS while working adjacent to or within the Transit Corridor, safety requirements including training and flagging protection, and the required notifications and approval process to enter the Transit Corridor and begin work. • Notice of License Agreement o To be recorded with Mecklenburg County Register of Deeds • Any other documents deemed necessary by CATS
Land Exchange. (a) The Town is the owner of a certain tract of land comprising 1.441 acres located in the County of Wake, State of North Carolina, which is designated as PIN #▇▇▇▇-▇▇-▇▇▇▇ by the Wake County Revenue Department, and is more particularly described in the deed recorded in Deed Book 16213, Page 1421, and as “Lot 5” as shown in “Recombination & Major Subdivision Final Plat Old Mill Village Lot 3 – Phase 1 for Apex First Development Co, LLC,” recorded in Book of Maps 2007, Page 2390-2391, Wake County Registry. The entire tract shall be known as the Town Tract.
(b) NC II is the owner of a certain tract of land comprising 1.722 acres located in the County of Wake, State of North Carolina, which is designated as PIN #▇▇▇▇-▇▇-▇▇▇▇ by the Wake County Revenue Department, and is more particularly described in the deed recorded in Deed Book 12626, Page 0412 and as “Lot 7” as shown in “Major Subdivision Final Plat The Villages of Apex South Village – Phase 1 Lot 3 and ▇▇▇ ▇, ▇▇▇ ▇, ▇▇▇ ▇ and Lot 7,” recorded in Book of Maps 2009, Page 05, Wake County Registry. The entire tract shall be known as the NC II Tract.
(c) Subject to the terms and conditions of this Agreement, NC II agrees to exchange the NC II Tract for the Town Tract and the Town agrees to exchange the Town Tract for the NC II Tract (the “Exchange”). The consideration provided by each party to the other shall be the simultaneous conveyance of the NC II Tract by NC II to the Town and the conveyance of the Town Tract by the Town to NC II.
Land Exchange. 7.1 In accordance with clauses 5.1(b), 6.1 and 6.2(a), the parties consent to a Surrender in relation to all the Land Exchange Lots to take effect upon Registration.
Land Exchange. 3.1 Any Band whose Reserve lands are affected ("affected Band") shall be compensated by Manitoba granting to Her Majesty the Queen in right of Canada, for the use and benefit of the affected Band, an area of land equal to not less than four (4) acres for every acre of affected lands (as herein defined), free and clear of any encumbrances except any such easements in favour of Hydro as are provided in Article 3.5.
3.2 The land granted in compensation shall be selected from unallocated, unencumbered and unoccupied land, owned by Her Majesty the Queen in right of the Province of Manitoba, in the area commonly used and enjoyed by the community in the exercise of its traditional pursuits, and the land selected shall not necessarily be contiguous with a Reserve. In the absence of agreement between the parties on any parcel proposed for selection, the provisions of Article 24 shall apply. In order to avoid the undue restriction of the lands from which selection may be made, land set aside as a "Water Power Reserve" shall not be deemed to be allocated, encumbered, occupied or required for public purposes by reason only of it being set aside as a "Water Power Reserve". Land in respect to which Manitoba has set aside, granted or assigned timber rights shall not be deemed to be allocated, encumbered, occupied or required for public purposes by reason only of it being so set aside, granted or assigned, but land which is being actively logged at the date of this Agreement and land occupied by or used in connection with active logging camps shall be deemed to be allocated, encumbered or occupied.
3.3 The Band Council shall be entitled to identify the parcel or parcels of land it is prepared to accept in exchange for the affected lands, and provided they are not required for public purposes, Manitoba shall transfer such lands so that the said lands will constitute a Reserve, with all the rights appurtenant to Reserves occupied by the Bands or any of them at the date of this Agreement, including without limitation, all mineral rights. Any area so selected shall be subject to the right of Manitoba to exclude therefrom within three months after receipt of identification of such area, any area required by reason of intended specific use for public purposes. Such exclusion shall be identified by Manitoba submitting to the Band Council a map showing the excluded portion and a letter stating the area of the excluded portion and the intended specific use.
3.4 The Band Council ma...
Land Exchange. (1) In general
Land Exchange. Lessor may exchange title in all or any portion of the Leased Premises for other lands, public or private, as allowed by Idaho law, including pursuant to Title 47, Chapter 7, Idaho Code; Title 58, Chapter 1, Idaho Code; and other applicable Idaho laws, rules, or regulations, as amended.
Land Exchange. Concurrently with the execution of this Master Agreement, BNSF and City shall enter into a property exchange agreement ("Exchange Agreement") for the exchange of the Replacement BNSF Property and the Cash Payment (as defined in the Exchange Agreement) for the Replacement City Property ("Land Exchange").
Land Exchange. In order to allow Eighth & T to continue operating its Parking Lot on City Parcel Three, Eighth & T offered to convey a larger portion of the Eighth & T Property (Enlarged Eighth & T Parcels) as more particularly described on Exhibit F attached hereto and incorporated herein by reference in exchange for City Parcel Three and an additional City Parcel designated as City Parcel Four. City Parcel Four is a vacated portion of vacated U Street as vacated by Ordinance No. 15591 and is legally described and shown on Exhibit G which is attached hereto and incorporated herein by this reference. The City is willing to accept Eighth & T's counteroffer. The Enlarged Eighth & T Parcels and City Parcel Three and City Parcel Four are sometimes referred to individually as the “Exchange Property” and when more than one as the “Exchange Properties.”
Land Exchange. Landlord and ▇▇▇▇▇▇ hereby agree to cooperate with one another with respect to the performance of their respective obligations under the Land Exchange Agreement. Without limiting the generality of the foregoing, Landlord shall not waive any material conditions precedent to the Land Exchange without first consulting with Tenant in good faith. Additionally, ▇▇▇▇▇▇▇▇ agrees to cooperate with Tenant’s efforts to obtain a leasehold title policy of insurance covering the NNSA Exchange Property in form and substance reasonably satisfactory to Tenant underwritten by an underwriter designated by ▇▇▇▇▇▇, and Landlord shall use reasonable efforts to resolve any matters of record that are reasonably objected to by Tenant with respect to the NNSA Exchange Property.